CCI approves amalgamation of Mangalore Chemicals & Fertilizers with Paradeep Phosphates Limited and acquisition of equity shares of Mangalore Chemicals & Fertilizers Limited by Zuari Maroc Phosphates Private Limited

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....CI approves amalgamation of Mangalore Chemicals & Fertilizers with Paradeep Phosphates Limited and acquisition of equity shares of Mangalore Chemicals & Fertilizers Limited by Zuari Maroc Phosphates Private Limited <br>News and Press Release<br>Dated:- 30-7-2024<br><BR>The Competition Commission of India (CCI) has approved the proposed amalgamation of Mangalore Chemicals & Fertilizers with Paradee....

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....p Phosphates Limited and proposed acquisition of equity shares of Mangalore Chemicals & Fertilizers Limited by Zuari Maroc Phosphates Private Limited. Paradeep Phosphates Limited (PPL) is a company under the Adventz group of companies (Adventz group). The majority shareholding in PPL is held by ZMPPL. ZMPPL is a 50:50 joint venture between Zuari Agro Chemicals Ltd (ZACL), a company belonging to t....

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....he Adventz group and OCP S.A. (OCP). PPL is primarily engaged in the production and marketing of complex phosphatic fertilizers. Mangalore Chemicals & Fertilizers Limited (MCFL) is a company under the Adventz group. The majority shareholding (i.e. 54.03%) in MCFL is held by ZACL. MCFL is primarily engaged in the production and marketing of complex phosphatic fertilizers. Zuari Maroc Phosphates P....

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....rivate Limited (ZMPPL) is a 50:50 joint venture between ZACL and OCP. ZMPPL currently holds 56.08% equity stake in PPL. ZMPPL carries out trading of fertilizers. The Proposed Combination comprises of: (i) the proposed amalgamation of MCFL with and into PPL, on a going concern basis (Proposed Merger); and (ii) the proposed acquisition of 3,92,06,000 equity shares of MCFL by ZMPPL from ZACL (Propos....

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....ed Acquisition) (the Proposed Merger and Proposed Acquisition are collectively referred to as the Proposed Combination). Detailed order of the CCI will follow.<BR> News - Press release - PIB....